Louisiana State Employees Retirement System Purchases New Position in Dover Corporation $DOV

Louisiana State Employees Retirement System purchased a new position in Dover Corporation (NYSE:DOV) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,900 shares of the industrial products company’s stock, valued at approximately $1,438,000.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Dover by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 16,733,000 shares of the industrial products company’s stock worth $3,266,951,000 after acquiring an additional 120,341 shares during the period. State Street Corp lifted its stake in shares of Dover by 3.5% in the 4th quarter. State Street Corp now owns 6,760,797 shares of the industrial products company’s stock valued at $1,319,978,000 after purchasing an additional 227,436 shares during the period. Geode Capital Management LLC boosted its position in shares of Dover by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,519,070 shares of the industrial products company’s stock valued at $684,348,000 after purchasing an additional 30,372 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Dover by 174.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,880,653 shares of the industrial products company’s stock worth $562,419,000 after purchasing an additional 1,830,722 shares during the period. Finally, Nuveen LLC grew its stake in Dover by 9.9% in the fourth quarter. Nuveen LLC now owns 2,623,281 shares of the industrial products company’s stock worth $512,169,000 after purchasing an additional 235,454 shares during the period. 84.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DOV has been the subject of several recent research reports. Wells Fargo & Company raised Dover from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $210.00 to $230.00 in a research report on Tuesday, March 17th. Oppenheimer upped their target price on shares of Dover from $242.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Robert W. Baird increased their price target on shares of Dover from $255.00 to $279.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Weiss Ratings raised shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. Finally, Morgan Stanley upped their price objective on shares of Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.85.

Dover Trading Down 1.5%

NYSE DOV opened at $213.84 on Friday. Dover Corporation has a 12 month low of $158.97 and a 12 month high of $237.54. The company has a current ratio of 1.87, a quick ratio of 1.32 and a debt-to-equity ratio of 0.35. The stock’s fifty day moving average price is $218.43 and its 200-day moving average price is $213.96. The stock has a market cap of $28.80 billion, a P/E ratio of 26.66, a P/E/G ratio of 1.65 and a beta of 1.16.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.01. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Dover had a net margin of 13.30% and a return on equity of 18.01%. Dover’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.05 EPS. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. As a group, equities analysts forecast that Dover Corporation will post 10.65 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, May 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Dover’s dividend payout ratio is presently 25.94%.

Dover Company Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.